Health Advancement Services Inc. announces reverse stock split and shares issuance.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Aug. 28, 1995--Health Advancement Services Inc., a Delaware corporation ("Health Advancement") (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :HASI) has announced that, effective as of 4:00 p.m. New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of time on August 25, 1995 (the "Effective Date"), Health Advancement effected a one-for-30 reverse stock split of its Common Stock, par value $.001 per share (the "Reverse Stock Split"), issued and outstanding as of the Effective Date, without changing the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. or the par value per share of the Common Stock. Fractional shares resulting from the Reverse Stock Split will be redeemed in cash from record holders in an amount equal to the product of the number of shares owned of record by each record holder as of the Effective Date that would be converted into a fractional share in the Reverse Stock Split multiplied by the average closing price per share of Common Stock on the OTC Bulletin Board for the ten consecutive trading days ended on Aug. 24. As of Aug. 28, 1995, the Board of Directors of the company authorized the issuance of an aggregate of 300,000 (post-Reverse Stock Split) shares of Common Stock to, among others, certain affiliates of Health Advancement (the "Issuance"). As of that date, after giving effect to the Reverse Stock Split and the Issuance, 721,414 shares of Health Advancement's Common Stock are issued and outstanding. Health Advancement is engaged in the business of supplying cardiac diagnostic and other services to patients of health care providers. These services include the supply and monitoring of the transtelephonic heart memory loop monitor, the dual function 24-hour ambulatory blood pressure Ambulatory blood pressure monitoring (ABPM) measures blood pressure at regular intervals throughout the day and night. It is believed to be able to reduce the white coat hypertension effect. and halter halter the simplest form of restraint for the head of farm animals. Comprises a poll strap, a nose band and a halter shank that brings the ends of the nose band together under the mandible. Made of leather or cotton or manila rope. monitor and pacemaker transmitter. CONTACT: Health Advancement Services Inc., Boca Raton Susan M. Massinger, 407/750-6999 |
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